August 14, 2015

Market outlook

- trend is down on daily charts
- today, markets broke out from previous day's range
- market gains today were highest in past 2 months
- advance decline was very good
- however I would like to look at this as a technical pullback or relief rally
- immediate support is at 8300 break of which can lead to a bigger fall
- option writing support 8300 resistance 8700

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